I totally agree with you, privatizing essential things is a bad thing in my opinion, because it can limit how much people have access to this service, without these services how will people evolve? It is something that will stop and demotivate people who have had reduced access, or sometimes they may even not be able to survive.
Many people won't be able to survive if basic amenities like water and electricity are privatized. As you mentioned, it can limit how much people have access to these services.